(MENAFN- Trend News Agency) ASTANA, Kazakhstan, March 24. The Prime
Minister of Kazakhstan Oljas Bektenov has held a meeting with the
Executive Vice President of Shell, Peter Costello, to discuss the
status of their collaborative projects in the oil and gas industry,
Trend reports.
Therefore, maintaining oil and condensate output at a level of
at least 11 million tons annually is the top objective, according
to the Karachaganak expansion project. In order to do this, the
involved parties will guarantee the prompt commissioning of extra
compressors for raw gas reinjection.
Concurrently, the question of building a 4 billion cubic meter per
year gas processing plant in Karachaganak at the expense of the
shareholders is being discussed in order to guarantee the project's
complete operation.
Furthermore, particular focus was placed on the Kashagan field's
consistent operation. Production of gas reached 11.86 billion m3
and oil 18.77 million tons in the last year. 5.83 billion m3 of gas
were reinjected into the reservoir. The question of constructing a
gas processing facility in Kashagan is in the development stage in
order to fully exploit the field.
Oljas Bektenov emphasized the importance of incorporating more
Kazakh content into projects, especially by relocating production
facilities.
"Today, the proportion of local content in project operators'
labor is adequate; nevertheless, the proportion of local content in
products purchases is still quite low. This necessitates more
communication with regional producers who are interested in making
goods," he stated.
The attendees reaffirmed their commitment to advancing long-term
cooperation after the conference.
To note, Shell strengthened its position as one of the biggest
foreign investors in Kazakhstan by contributing more than $18
billion to the country's economy.
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